Helius Medical Technologies Announces Uplisting to Nasdaq and Pricing of Public Offering of Class A Common Stock and Warrants

Helius Medical Technologies (TSX:HSM) (NASDAQ:HSDT) announced the pricing of an underwritten public offering of 2,141,900 shares of its Class A common stock and warrants to purchase 2,141,900 shares of its Class A common stock at a public offering price of US$7.47 per share and accompanying warrant, before underwriting discounts and commissions.  The net proceeds to the Company from this offering, after deducting the underwriting discounts, commissions and estimated offering expenses payable by the Company, are expected to be approximately $14.1 million.  The offering is expected to close on or about Friday, April 13, 2018, subject to customary closing conditions including the approval of the Toronto Stock Exchange.

As quoted in the press release:

The Company’s Class A common stock has been approved for listing on the Nasdaq Capital Market and is expected to begin trading thereon under the symbol “HSDT” on Wednesday, April 11, 2018.  The Company’s Class A common stock will continue to trade on the Toronto Stock Exchange under the Symbol “HSM.”

BTIG, LLC and Echelon Wealth Partners Inc. are acting as joint book-running managers for the offering. Helius has granted the underwriters a 30-day option to purchase up to an additional 321,285 shares of Class A common stock and additional warrants to purchase 321,285 shares of Class A common stock at the public offering price, less the underwriting discounts and commissions. The option may be exercised to acquire either shares of Class A common stock, warrants or both at the discretion of the underwriters.

Click here to read the full press release.